As part of Government of India’s ease of doing Initiatives, Central Government on 6th February, 2020 has amended Companies (Incorporation) Rules, 2014 by issue of Companies (Incorporation) Amendment Rules, 2020. The rule shall be made applicable for all new company incorporation with effect from 15th Feb, 2020.

To implement these rules MCA is going to release new incorporation Form ‘SPICe+’. Which will be an integrated Web Form that will have two Parts, ‘Part A’ for reservation of Name of Company and ‘Part B’ for registration related services.

It is pertinent to note that, “Part A” of form “SPICe+” shall now only be used for reservation of name for new company and existing “RUN” service used for reservation of name shall be used only for reservation of name for existing companies (i.e. for name change of already incorporated company “RUN” service shall be used and for new company “Part A” of “SPICe+” shall be used). Necessary amendment has been made by central government by substituting rule 9 of existing rule with below rule:

“9. Reservation of name or change of name- An application for reservation of name shall be made through the web service available at www.mca.gov.in by using web service SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus: INC-32), and for change of name by using web service RUN (Reserve Unique Name) along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014, which may either be approved or rejected, as the case may be, by the Registrar, Central Registration Centre after allowing resubmission of such web form within fifteen days for rectification of the defects, if any, with effect from the 15th February, 2O2O”.

Stakeholders may also seek their attention to the Second part of the form viz. “Part B” of the form as well, as it has been now made mandatory for the new companies to apply for “EPFO Registration”, “ESIC Registration”, “Professional Tax Registration (For Maharashtra)” and “Opening of Bank Account”.

List of services offered through Part B of the form and their applicability has been tabulated below for reference:

S. No. Services offered Applicability
1 Incorporation Mandatory
2 DIN Allotment If director does not possess DIN
3 PAN Allotment Mandatory
4 TAN Allotment Mandatory
5 EPFO Registration Mandatory
6 ESIC Registration Mandatory
7 Profession Tax Registration (Maharashtra) Mandatory
8 Opening Bank Account Mandatory
9 GSTIN Allotment If opted

In nutshell, it’s a good move by government to afford a single window for the new companies to get all registrations on a single go, but at the same time making PF and ESI registrations mandatory for new companies will add further to the compliance burden on the new companies.

I hope you liked this article, for any feedback/ suggestion write us in comment box of this post.

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Qualification: CA in Practice
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2 Comments

  1. M.Natarajan says:

    If the company is not required to have PF/ESI registration since the employees are below threshold,then what is the use of having PF/ESI registration. The number of PF/ESI registration may show higher registration but it is of no use to government

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